3 Phenomena in 1 Day! GULF Ends the Day with a JV Request for “MRT Orange Line”!

Gulf Energy Development Public Company Limited (GULF) has requested for proposal documents (RFP) from the Mass Rapid Transit Authority of Thailand for a joint venture for the MRT Orange Line Bang Khun Non-Min Buri (Suwinthawong), reported the source close to the matter.

The MRT Orange Line Project “Bang Khun Non – Min Buri (Suwinthawong)” is both underground and elevated transit system included within an approximate distance of 35.9 kilometers. The project alignment starts at Bang Khun Non and terminates at the Suwinthawong station near the Ramkhamhaeng – Suwinthawong junction, consisting of 21 underground stations and 7 elevated stations for a total of 28 stations.

 

GULF was the talk of the stock market for the whole day. It started with the report of a  transaction of GULF’s shares from Asian Development Bank (ADB) to a placement for a total of 176,000,000 shares at an offering price of ฿35.15/share.

Read More: GULF’s “Sarath” Respects ADB’s Rights, Affirming a Solid Growth and Business Plans.

 

In the afternoon, GULF announced the resolutions of the Board of Directors’ Meeting No. 10/2020 held on July 23, 2020 to approve the increase of the registered capital of GULF by issuing 1,066,650,000 newly issued ordinary shares at the offering price of THB 30 per share.

The company stated that the objectives of the capital increase were to use the proceeds for investment in projects that are in the company’s plan.

Read More: GULF Expects to Raise ฿32Bn of Funds for More Big Projects in the Pipeline!

 

The share price of GULF closed the day at ฿34.25/share, dropped ฿2.75/share or 7.43% with a trading value of 15.2 billion baht.